Nickel Industries project update

Nickel Industries Limited (ASX:NIC) provides an update on the Excelsior Nickel Cobalt high pressure acid leach (HPAL) project within the Indonesia Morowali Industrial Park (IMIP) in Central Sulawesi, Indonesia. Long lead items are scheduled to begin arriving at IMIP from mid-September, and engineering and design work on the slurry pipeline and in-pit tailings has been completed. The ENC Project and adjacent areas are set to be developed into a 'green precinct.'

Executive commentary on ENC project and green precinct vision

We are pleased to report on the excellent progress in delivering the ENC HPAL project within the contracted time frame. With the majority of the earthworks completed and key critical equipment such as the preheaters, autoclaves and flash vessels fabricated, we are expecting the arrival of this critical equipment at the IMIP starting in the next few weeks. Good progress has been made on the slurry pipeline and tailings storage facility, which will see 100% of ENCs nickel ore requirements supplied from our HM operation via a slurry pipeline, which will have a number of benefits including reduced costs, lower carbon intensity and improved safety. Our in-pit tailings storage solution is the best of breed with several environmental advantages compared to a dedicated tailings storage facility. The commitment by our partner and largest shareholder to supplement the ENC surrounds with the funding for a world-class green precinct for ENC employees to live and thrive will elevate ENC to being a global leader and showcase for sustainable best practice nickel processing for the global EV and battery markets.

Summary of ENC project update and outlook

Nickel Industries Limited (ASX:NIC) has made significant progress on the Excelsior Nickel Cobalt high pressure acid leach (HPAL) project, with long lead items scheduled to arrive at the Indonesia Morowali Industrial Park (IMIP) from mid-September. The completion of engineering and design work on the slurry pipeline and in-pit tailings marks a crucial milestone. The project's vision to develop a 'green precinct' aligns with the IMIP's commitment to sustainable project development, utilizing renewable power for a low-carbon emission operating environment. The green precinct is expected to become a global standard for sustainable project development, showcasing the Company's dedication to sustainable best practice nickel processing for the global EV and battery markets. With the ENC project's ambitions and sustainable operations, Nickel Industries is poised to diversify its production and reduce its carbon emissions profile, reflecting a strong commitment to expected sustainable operations.